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DST-backed Spotify plots new fundraising round

Digital Sky Technologies-backed Spotify, which closed a $100m fundraising round last year valuing it at about $1bn, is seeking to raise between $100m and $200m in a new investment round that would value the Swedish digital music service at nearly $4bn.

The loss-making Swedish start-up is said to be targeting marquee venture capital firms and financial backers including Goldman Sachs. Meanwhile, Coca-Cola, which has collaborated with Spotify on several music-related projects, is apparently considering making a nominal investment in the business.